Identify which of the following statements are correct?

(A) Fiscal deficit is the difference between total revenue and total expenditure excluding borrowing of the government.

(B) Fiscal deficit is the difference between total planned expenditure and total planned receipts of the government.

(C) Primary deficit is the difference between total planned receipt and interest payments.

(D) Fiscal deficit is the sum of primary deficit and interest payment.

Choose the correct answer from the options given below:

Option 1 -> (B) is incorrect as fiscal deficit excludes borrowings from receipts, not includes "total planned receipts"; (D) is correct.

Option 2 -> (A) correctly defines fiscal deficit as total expenditure minus total revenue (excluding borrowings); (D) correctly states the relationship between fiscal deficit, primary deficit, and interest payments.

Option 3 -> (C) is incorrect as primary deficit is not calculated this way; (D) is correct.

Option 4 -> (A) is correct but (C) is incorrect.

Hence, Option 2: (A) and (D) only -> Statement (A) correctly defines fiscal deficit as the gap between total expenditure and total revenue (excluding borrowings), showing how much the government needs to borrow. Statement (D) correctly establishes that Fiscal Deficit = Primary Deficit + Interest Payments. Statement (B) is incorrect because it vaguely refers to "total planned receipts" which could include borrowings. Statement (C) is incorrect as Primary Deficit = Fiscal Deficit - Interest Payments, not the difference between receipts and interest payments. -> correct